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Financial restructuring proposal
About us

2016

Abengoa continues its divestment plan with the sale of four photovoltaic plants

April 7, 2016
  • The assets, located in the provinces of Seville and Jaen, are valued at 57.2 M€.
  • This operation is part of Abengoa´s recent divestment policy and represents further progress in the feasibility process the company is carrying out.
April 7, 2016 - Abengoa (MCE: ABG.B / P SM / NASDAQ: ABGB), an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, has sold Vela Energy four photovoltaic plants located in the provinces of Seville and Jaen. The agreement, included in the divestment plan recently announced by the company, implies a debt reduction of 50.3 M€ and a net cash inflow of 12.2 M€, and will contribute to achieving the targets set in the viability plan of New Abengoa.
Abengoa has sold four solar photovoltaic plants located in the provinces of Seville: Casaquemada, 1.88 MW located at the Solucar Platform in Sanlucar la Mayor; Cabezas de San Juan with a capacity of 5.70 MW, Copero, 0.90 MW in Dos Hermanas; and Jaen: Linares, of 1.89 MW. Abengoa owned 100 % of these plants, with the exception of the installation of Copero, in which it owned a 50 % stake.
This operation is part of the divestment policy of Abengoa and represents further progress in the feasibility process which the company is carrying out. Recently, Abengoa has also announced the sale of the wind farm of Campo Palomas, located in Uruguay; its participation in the Shams-1 solar power plant, located in United Arab Emirates; as well as other properties such as the former headquarters of the company in Madrid.
About Abengoa
Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)
About Vela
Vela Energy is a leading independent renewable energy producer in the South of Europe. Vela invests and operates large scale solar photovoltaic plants in Spain and Italy, with a portfolio of 122MWp own plants and a total of 240MWp under management.
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